Prestigious Fortune 40 Under 40 Honors PingPong Payments on Its 5th Anniversary

SAN MATEO, California, June 2, 2020 /PRNewswire/ -- PingPong Payments co-founder, Robert Chen, has been recognized in this year's highly respected Fortune list of top 40 influential business elites under the age of 40, as the payments company celebrates its fifth year of success.

PingPong Payments is widely viewed as one of the hottest start-ups, and is seeing a strong demand for its services as e-commerce sales experience a meteoric rise, driven by lockdown and a decline in brick and mortar stores.

To date, PingPong Payments has helped over 800,000 cross-border merchants worldwide, and processed a staggering $15 billion in e-commerce sales.

Robert Chen, Co-Founder at PingPong Payments, comments: "I am honored to receive Fortune's distinguished 40 under 40 recognition, as the company achieves its significant half-decade milestone. Five years ago I founded PingPong Payments on the East Coast, having identified an entire market of marketplace sellers, large and small, who were largely ignored by an antiquated banking system which deemed cross border payments too risky.

"We saw the potential and wanted to solve that problem, and have taken great pleasure in stepping in to support fast growth sellers in an emerging e-commerce retail landscape - becoming accidental entrepreneurs in the process. By designing our business model on servicing the marketplace of the future, we are providing a much needed cross-border payments service to professional sellers in a way no one else is doing."

Ning Wang, Co-Founder and Chief Business Officer: "Coming from a heritage of working at the world's largest e-wallets - PayPal and AliPay - I have seen the world of payments transform, and be disrupted. Robert and I saw a gap in the market to produce a holistic suite of products which serves the needs of fast growth professional sellers, enabling them to not only source and pay suppliers, but also open local bank accounts and pay their VAT, which no other payment provider does. This frees up sellers to truly concentrate on what matters - their business.

"We are providing a lifeline to embattled retailers during the crisis and amidst the impending U.S. economic recession. Our comprehensive product offerings have enabled us to become the chosen multidimensional partner of growth to hundreds of thousands of professional sellers, who wish to expand their global footprint. We support our merchants in a way the banking system was not built to, ensuring security through innovative, unique virtual accounts which mitigate anti money laundering challenges."

About PingPong Payments

PingPong Payments was founded in 2015 with the mission of helping global e-commerce sellers keep more profits, by beating the rates traditional banks offer. Today, the company serves more than 600,000 online sellers worldwide, has processed more than $10 billion in cross-border payments for e-commerce merchants to-date, and transfers more than $100 million per day for international e-commerce sellers. Global merchants around the world trust PingPong Payments to help them save on cross-border payments, VAT & supplier payments, and more.

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